March 20, 2013 |
Hewlett-Packard Co. shareholders voted in favor of the current board at an annual meeting Wednesday, shrugging off a campaign by some investors to ignite a protest over a series of troubled acquisitions. HP announced that all 11 directors received at least 50% of the vote in their favor. The results of the vote were announced at the end of HP's annual shareholder meeting, held at the Computer History Museum in Mountain View, Calif. The 90-minute meeting included an extensive presentation by Chief Executive Meg Whitman, who outlined the strides she believes have been made in turning around the Silicon Valley icon.
March 12, 2013 |
Defending its proposed merger with T-Mobile, MetroPCS on Tuesday urged its shareholders to approve the deal, which is under regulatory review. In a letter to shareholders , Roger D. Linquist, chief executive of MetroPCS Communications, Inc., called the low-cost wireless carrier's planned combination with T-Mobile USA Inc., announced last year, "the best strategic alternative for our stockholders. " Linquist's letter follows criticism of the proposal by two major shareholders: P. Schoenfeld Asset Management, a hedge fund leading a challenge against the transaction, and Paulson & Co., which owns 9.9% of MetroPCS stock.
March 11, 2013 |
Dell Inc. saw its stock jump 1.26% in midday trading on Monday after the company reached an agreement to let shareholder activist Carl Icahn see its books. Icahn Enterprises disclosed that it had signed a confidentiality agreement with Dell that will allow it to examine the company's financial records. The stock was up $.18 to $14.34. Founder Michael Dell is leading a group of investors who have proposed taking Dell private. That group has offered $13.65 per share, valuing the deal at about $24.4 billion.
March 11, 2013 |
The heat has been building on Hewlett-Packard's board as the company prepares for its annual meeting next week, with several major shareholders calling for a protest vote against some directors. In a securities filing on Monday, HP struck back against critics, arguing that a turnaround plan is in place and making progress, and that any upheaval on the board would cause a distraction. PHOTOS: Tech we want to see in 2013 "Changing the composition of the HP board of directors could be destabilizing to the company," wrote lead independent director Rajiv L. Gupta in a letter to shareholders.
March 6, 2013 |
Shareholders have voted down two proposals brought forward at the Walt Disney Co. annual meeting that sought to change how the largest entertainment company in the world is governed. One proposal called for the future split of the chief executive and chairman positions, which are both currently held by Robert Iger. At the meeting, held in Phoenix on Wednesday morning, the Burbank-based company said that only 35.3% of shareholders who cast non-binding votes in advance of the meeting approved the split.
March 4, 2013 |
Voters in Switzerland, angered by high executive pay, backed a plan to increase the control of shareholders over compensation of corporate leaders. Nearly 70% of voters approved the so-called "Rip-Off Initiative," according to the Swiss television station SRF, which gives shareholders the right to vote on compensation for company directors and executives and bans bonuses bestowed on high-ranking employees when they join or leave a firm. "Today's vote is the result of widespread unease among the population at the exorbitant remuneration of certain company bosses," said Justice Minister Simonetta Sommaruga in a press conference over the weekend, according to the Associated Press.
February 27, 2013 |
CUPERTINO, Calif. -- There was little of the expected fireworks at Apple's annual meeting Wednesday as shareholders overwhelming reelected all board members and backed the company's position on several proposed changes to Apple's bylaws. However, shareholders hoping for word of a rumored stock split, or news that Apple might increase its dividends or buy back more of its stock, were disappointed. Chief Executive Tim Cook said the company continues to discuss its growing cash balance, and that he shared investors' concern about a share price that has plunged more than 30% from last summer.
February 21, 2013 |
Activist investors have succeeded for the first time in placing a shareholder resolution on the risks of greenhouse-gas emissions up for a vote at a major bank, a step toward making climate change an important consideration for corporations. The resolution, which follows years of protests over banks financing certain coal operations, is to be included in proxy material being sent to shareholders of PNC Financial Services Group of Pittsburgh before the bank's April 23 annual meeting.
February 19, 2013 |
A federal judge on Tuesday declined to make a quick ruling on an investor's request to block a vote at Apple's annual shareholder meeting next week. Greenlight Capital has objected to a measure on Apple's proxy that would change the rules for issuing a special class of stock. The investment firm had filed a lawsuit and asked for a temporary injunction to prevent a vote at the shareholder meeting scheduled for Feb. 27. After a volley of filings and rebuttals in the case, both sides appeared Tuesday in U.S. Federal District Court in New York City to make their cases.
February 15, 2013 |
Dissident shareholder Greenlight Capital claimed in a filing made Friday in its lawsuit against Apple that a growing number of investors are joining its protest against the way the company is handling its upcoming shareholder vote. In the filing, Greenlight includes a statement from Thomas Long, a senior vice president at D.F. King & Co., a firm that helps facilitate shareholder votes on corporate proxies, among other things. Long's declaration claims there has been a groundswell of shareholders seeking to change their votes since Greenlight went public with its dispute.